K-Electric remains committed to bringing Karachi to a position of surplus power by 2022 through a series of planned investments throughout the power value chain. These investments, which will be subject to regulatory approval, will enable the EC to benefit consumers and the economy at large.
This was disclosed by Aamir Ghaziani, K-Electric’s chief financial officer, at a company briefing held through a webinar, which was attended by analysts from leading brokerage houses and other stakeholders.
The impact of Covid coupled with increased financial costs due to accumulated receivables from government and entities caused the KE to report a loss in fiscal 2020. However, analysts were told that the first half of fiscal 2021 has shown major improvements in operations and finances. indicators, including a 4.8 percent growth in shipments, a 0.6 percent improvement in T&D losses and a cut in interest rates.
A statement issued by the power company said this had helped turn KE back into profit in FY 21. KE remains committed to its vision of bringing Karachi to an electricity surplus position by 2022. The upcoming 900 MW RLNG based BQPS-III is continuing accordingly. schedule is expected and the first unit of 450 MW is scheduled to go online in May 2021. The power plant will also help increase the efficiency of the KE generation fleet from 38 percent in FY 2020 to 48 percent in FY 2023.
In addition, a 350 MW renewable energy project is also in the pipeline process. Work on the 220 kV Dhabeji Power Network and transmission line has begun and the completion of contractual arrangements for the removal of an additional 1,400 MW from the National Grid (including 450 MW from existing interconnections) is in the advanced stages.
KE hopes that the National Transmission & Delivery Company (NTDC) will complete the necessary rehabilitation of the 220 KV Dhabeji network together with the implementation of the “Cross Trip” scheme by March 2021. Signing of an interconnection agreement (ICA) with NTDC and a power purchase agreement (PPA) with CPPA-G for 2,050 MW (existing 650 MW plus 1,400 MW additional) it is essential to extract additional power.
Project Sarbulandi, part of the investment for reducing KE losses of Rs 24 billion from FY 17 to FY 23 is the main initiative of the power company to lift disadvantaged areas in Karachi by focusing not only on network health but also on community improvement activities and infrastructure development such as construction of water filtration plants , rehabilitation of parks and schools and through free medical camps across the city. As part of Sarbulandi, the company has continued conversion to aerial bundled cable (ABC) with more than 800 pole-mounted transformers (PMT) converted to ABC during the first half of fiscal 2021, and around 10,000 PMT in total. The impact has been felt in some Korangi, Orangi and Landhi.
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